Ajman Bank, one of the leading Shariah compliant banks in the UAE, has signed a partnership agreement with Kamel Pay, a Fintech Company to build and implement a highly innovative payments value proposition for businesses and individuals in the UAE. This partnership will form the basis of growth in the digital financial solutions in the UAE.
Inspired by the UAE’s National Payment System Strategy of moving towards cashless society, Kamel Pay was envisioned in 2019 as a Fintech Company with the strategic aim of empowering businesses and individuals with digital access to a full suite of financial services in the UAE. Kamel Pay aims to expand beyond the UAE and become the leading Fintech Company in the MENA Region.
Mr. Hussain Al Qemzi, Chairman, Kamel Pay, said,”We are excited in partnering with Ajman Bank and launching digital financial services for businesses and individuals across the UAE; via a friendly and secure digital app-based platform. This Partnership will enable the much-required financial inclusion for the UAE’s underbanked population through state-of-the-art Kamel Pay digital app offering relevant and affordable financial services for their personal and family needs.
“Having Ajman Bank as our trusted banking partner will provide Kamel Pay a strong foundation to deliver innovative financial products and a seamless customer experience for businesses and individuals through a cutting-edge payment platform and superior service delivery. This collaboration between a Bank and an agile Fintech offering latest digital technologies will have a substantial impact on the adoption of secure and cashless payments across the UAE; especially in the underbanked population who had been largely neglected till now.”
Mr. Mohamed Amiri, Chief Executive Officer, Ajman Bank, said, “We are glad to collaborate with Kamel Pay as part of our ongoing commitment to strengthen the payment infrastructure with the most advanced, secure and cashless payment solutions. Our goal is to develop a robust electronic payment ecosystem driven by data and insights to increase the safety and security of electronic payments. It complements our strategy and vision to address the needs of our customers with the most innovative products and services.”
Kamel Pay strives to remain at the forefront of solving the ever-emerging financial needs of the UAE and future markets by delivering the advantages of secure, instant and cashless payments through product innovation and cutting-edge digital technology.
Unlike many other Fintech firms, Kamel Pay founding team comprises a group of seasoned professionals with over 100+years of collective commercial banking and technology leadership experience with a proven track record of developing and executing innovative customer-centric digital solutions delivering value-added customer benefits in multiple banking and financial services organizations across the region.
About Ajman Bank:
Ajman Bank is an Islamic bank with an ambitious vision based on values of integrity, trust and transparency seeks to provide a wide range of Sharia-compliant and high-quality banking services to customers from individuals, companies and government institutions across the UAE. It is also keen to be updated with the latest technology that will ensure customers a distinctive experimental banking with the revival of human touch that is lost in the modern era of banking application.
Ajman Bank is headquartered in Ajman and enjoys the strong support of the Government of Ajman and is a key pillar in the emirate’s economic development strategy. The bank continues its tireless efforts to establish a prominent position in the banking sector as a sustainable Islamic banking institution, with an emphasis on the need to achieve an optimal balance in the community and caring staff, in order to provide real value for shareholders and customers alike.
ABOUT KAMEL PAY:
Inspired by the UAE’s National Payment System Strategy of moving towards cashless society, Kamel Pay was envisioned in 2019 as a Fintech Company with strategic aim of empowering businesses and individuals with digital access to a suite of financial services.
Kamel Pay strives to remain at the forefront of solving the ever-emerging financial needs of communities in the UAE and the larger MENA Region; by delivering the advantages of secure, convenient and cashless payments through product innovation and cutting-edge digital technology.
The Kamel Pay founding team has a combined 100+years of banking and technology leadership experience with a proven track record of launching customer-centric digital solutions coupled with delivering value-added customer benefits in multiple banking organizations across jurisdictions.
Kamel Pay facilitates business and individual payments through a secure and digital experience in collaboration with Ajman Bank.
The solution is available to all businesses and individuals looking to benefit from a simplified on-boarding process and end-to-end service delivery performed through a secure and friendly digital app. Kamel Pay’s feature-rich Client portal is a convenient companion to manage daily tasks and streamline regular payments.
Kamel Pay provides an EMV-compliant Mastercard prepaid card and a user-friendly digital app to all cardholders with real-time digital account information and ability to access funds at 40million+ touchpoints globally. The Kamel Pay innovative digital app provides a platform for executing end-to-end financial services such as instant remittances, bill payments, e-commerce purchases etc.
The solution will be launched shortly in UAE market with special preference for Ajman Bank’s existing customers and is expected to roll-out in other GCC markets in the next expansion phase of Kamel Pay.